Summary by Moomoo AI
Mobix Labs announced a $4 million private placement on July 22, 2024, issuing unregistered pre-funded warrants and common warrants to an institutional investor. The offering, priced at $1.39 per share, includes 2,877,698 pre-funded warrants and Series A and B warrants to purchase up to 2,877,698 shares each.The Series A warrants expire in 5 years and Series B in 12 months from stockholder approval. H.C. Wainwright & Co. acted as the exclusive placement agent, receiving a 7% cash fee, 1% management fee, and warrants to purchase 201,439 shares. Mobix Labs plans to use the proceeds for working capital, potential acquisitions, and operational expenses.The company agreed to file a resale registration statement by August 13, 2024, and obtain stockholder approval within 90 days. Directors and officers entered lock-up agreements restricting share dispositions for 90 days after the registration statement's effectiveness.
